Cryptocurrency Analysis – week 39 and YTD, 2021

altcoins rebounded last week

Bitcoin and the broader crypto market rebounded last week. Bitcoin (BTC) increased 11.5% (vs. -7.3% prior week) and Ethereum (ETH) increased 9.6% (vs. -6.5% prior week).

Bitcoin traded from a low of just above $40K to a high of just over $49K, and crossed above its 200-day Moving Average (~$45K), which is critical to maintain a bullish outlook.
Recent comments from U.S. regulators remain in focus as it becomes clearer the direction that further oversight will take.

what was seen in China, however as stablecoins operate similarly to money-market funds, they need to be regulated.

Trends across the altcoins land improved modestly but still far more coins are technically in a Strong Downtrend (276) than Strong Uptrend (71) across the three time horizons (Short- Medium- and Long-term), based on our trend rating system (see table below).

You can quickly search for coins that are still in a solid uptrend on our Signals Summary page, under Trend and Momentum section.

Notice that last week (see charts below), the best performing altcoins have been those that have remained in an Uptrend even during the recent correction: SOL, AXS, LUNA, ALGO and XTZ, among them.  The winners will be winners?  For now it seems.

See top 50 coins by market cap “Performance” tab on our platform (see charts below):